Multibagger EV Stock To Keep Under Radar As Board Announces Stock Split From Rs 2 to Re 1
The stock gave multibagger returns of 270 per cent in just 2 years; 550 per cent in 3 years and a whopping 1,500 per cent in 5 years.
JBM Auto Ltd has proposed a stock split to enhance liquidity and broaden its shareholder base. The company plans to subdivide its Rs 2 face value equity shares into Re 1 face value shares. This move is expected to make the shares more affordable to small investors, potentially increasing trading activity. The split will not affect the company's authorized share capital but will increase the number of outstanding shares. The entire process is estimated to be completed within three months of shareholder approval through a postal ballot.
Earlier, JBM ECOLIFE Mobility, a leading electric bus manufacturer, secured USD 100 million in strategic funding from ADB and AIIB. This investment will be used to supply and operate electric buses under the Gross Cost Contract model in various Indian states. The funding aligns with JBM's mission to promote green public mobility in India and reflects the company's commitment to environmental sustainability. JBM has already deployed over 1,500 electric buses across India and has a robust order book of 6,500+ buses. With its world-class manufacturing facility and innovative electric buses, JBM is leading the way in transforming public transportation in India.
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About JBM Auto Ltd
JBM Auto Ltd, founded in 1983, is a major player in the automotive industry, manufacturing and selling a variety of products including sheet metal components, tools, buses and electric vehicles. Their business covers not only the vehicles themselves but also spare parts, accessories and maintenance contracts.
The company has a market cap of over Rs 17,000 crore. The stock gave multibagger returns of 270 per cent in just 2 years; 550 per cent in 3 years and a whopping 1,500 per cent in 5 years. Investors should keep an eye on this multibagger EV-stock.
Disclaimer: The article is for informational purposes only and not investment advice.